U.S. Steel Shareholders Approve $14.9 Billion Deal with Nippon Steel

On Friday, U.S. Steel shareholders approved the acquisition by Nippon Steel in a $14.9 billion deal. The companies expect to close the deal in the second or third quarter of this year. Nippon will pay $55 per share in the merger.

“Directors and shareholders accepted the Nippon Steel bid in preference to a takeover by rival Cleveland-Cliffs, another American brand with an industrial legacy,” writes American Machinist Content Director Robert Brooks.

With the addition of USS assets, Nippon is expected to become the third-largest organization in the global steel industry.

Learn more from IndustryWeek’s partner brand American Machinist.